How can you get onto Employee Express to change your Thrift Saving Plan allocation?

Answer 1

Despite the governments best efforts to keep the information at arms length at all times, your question is answerable. I have experience with several federal department level systems and Employee Express is actually one of the easier systems to use once you have an account. But let's start at the beginning.

First, you will need to get an account through your office human resources liaison or office. Once you have an account, go to the Employee Express website: https://www.employeeexpress.gov/ and log on.

Next, go to the section labeled Payroll- Personal Actions and click the Thrift Savings Plan tag.

This will take you to the Thrift Savings Plan Change section where you can enter either a percentage OR enter a whole dollar amount of your basic pay that you wish to contribute per pay period by selecting the appropriate block on the screen. Your payroll dollar amount cannot exceed the maximum contribution amount allowed. The maximum allowed is based on your total salary.

Please note:

• You should not use both a paper form TSP-1 and Employee Express to make TSP elections.
• The election you make through Employee Express will only affect your future contributions, not your past contributions.
• You can start, change or stop your contributions at any time. You may use Employee Express to change the amount or percent of payroll deduction for contributing to TSP.
• FERS refers to the Federal Employees' Retirement System, the Foreign Service Pension System, and other equivalent Government retirement plans.
• There is an annual limit on TSP contributions established by the IRS. The current annual limit is $15,500. If you reach the IRS limit on TSP contributions before the end of the year, your contributions will stop and you will lose any further agency matching contributions.
• If you are a new or rehired employee who has never had a Thrift Savings Plan (TSP) account, your contributions will be invested in the Government Securities Investment (G) Fund until you request a contribution allocation through TSP.
• If you are a rehired employee who has previously had a Thrift Savings Plan account, your contributions will be invested according to your last contribution allocation on file with the TSP until you request a different contribution allocation through TSP.
• The exact TSP deduction may not equal the percentage specified due to other mandatory payroll deductions.

If you choose a TSP Stop Action they are immediately effective at the end of the current pay period.

Below is an example to follow for deducting equal payments:

Effective Date: December 23, 2007

Number of Pay Periods in tax year: 26

Pay Period Deduction Amount: $597

(i.e. $15,500/26 = $597 rounded up)

The 26th payment will round to $575 to ensure the deduction amount does not exceed the limit for the year. This will ensure you will reach the annual limit on the last pay period of the tax year and continue to receive applicable agency contributions.

For more information contact your local human resources office.

Good luck saving money. In this economy, you'll need all you can get!